22 student teams participating in the local stage of the 2018-2019 CFA Institute Research Challenge submitted draft reports and progressed to the next stage of the competition.

CFA Association Russia acknowledges the hard work and dedication of all the teams who made a significant progress on their reports. It is not yet a time to relax, however, as final equity reports are due in one month.

The CFA Institute Research Challenge is a competition among university teams. The objective of the competition is to prepare a sell-side equity report of a designated publically traded company. This year’s subject company is Norilsk Nickel, the world’s largest producer of palladium and nickel.